Equinor ASA has published the transcript of its Q3 2025 Analyst Conference Call, held on October 29, 2025. The event featured participation from key members of management, including the Chief Financial Officer and the Senior Vice President and Head of Investor Relations, alongside analysts from leading financial institutions such as Sanford C Bernstein, RBC Capital Markets, Swedbank, Cowen and Company, BofA Merrill Lynch, UBS, Goldman Sachs, Redburn Partners, and Barclays. During the call, management provided an overview of Equinor's financial performance and addressed questions regarding the company's net working capital developments, the outlook for the Norwegian business, and the impact of asset sales outside Norway. The discussion also touched on European market dynamics, including potential effects from Russian LNG sanctions. On project milestones, the Chief Financial Officer clarified the timing for credit payments, stating, "Yeah, it is production start, that is sort of the criteria, and it is First Power. That is sort of the ultimate. So that is what we plan for in 2027." The Senior Vice President and Head of Investor Relations thanked participants and noted that the investor relations team remains available for further questions. The full transcript can be accessed through the link below.